Hovnanian Homes and Meritage Homes to bring single-family residences to Bayside Development in Rowlett

(ROWLETT, TX – April 10, 2018) Bayside District Partners, LLC is pleased to announce that K. Hovnanian Homes and Meritage Homes have been selected as homebuilders for Bayside, a 262-acre lakeside-resort community located at the eastern gateway to the DFW Metroplex on Lake Ray Hubbard. Together, K. Hovnanian and Meritage will bring 104 single-family homes to the north area of Bayside. Model homes for both builders will be completed on-site early this summer.

“We believe in building new homes and communities the way they can, and should be built, and we are eager to be a part of the new Bayside community in Rowlett,” said Austin Woffinden, division president at Meritage Homes. “We are leading the way in energy-efficient homes, setting the new standard in home construction and providing the Rowlett community with homes that fit their elevated and active lifestyle.”

Meritage Homes will bring 57 cottage-style, single-family homes to Bayside. Meritage buyers will have eight distinct floorplans to choose from that range in size from 1,867 to 2,434 square feet. These beautifully designed and affordable waterfront homes will offer a mix of brick and stone exteriors with stunning curb appeal. Interior features will include designer-selected Sherwin-Williams® interior paint, granite countertops with ceramic tile backsplash, Whirlpool® stainless steel appliances, crown molding, stained oak handrail with wrought iron balusters and the M. Connected Home™ Automation Suite. The M. Connected Home™ Automation Suite encompasses an array of features allowing owners to interact with their home and take command whether they are inside or away from the property. These features include Wi-Fi-enabled lighting, video doorbells, thermostats, smart door locks and more. Every home Meritage builds in the 26 DFW-area communities showcases their commitment to providing incredibly energy-efficient homes that let customers spend their money on better things than utility bills. Prices for Meritage homes at Bayside will start in the high $200s.

“We are excited to bring luxury single-family homes to this idyllic lakeside community, where our residents will have easy access to major business hubs as well as local dining and entertainment, stunning lake views, running and biking trails and community events just minutes from their front door,” said Jimmy Brownlee, division president at K. Hovnanian Homes. “Bayside is a unique community and we are looking forward to building beautiful homes in the area.”

Hovnanian Homes will build 47 single-family homes at Bayside. The houses will range from two to four-bedrooms and range in size from 1,900 to 2,800 square feet. Exterior features will include the traditional brick and stone exteriors along with a unique Cape Cod siding elevation. The interior amenities of the homes will include granite countertops, wood or ceramic tile flooring, custom-built 42-inch tall kitchen cabinetry, GE stainless steel appliances, crown molding, luxurious lighting packages, valet drop zones and more. In Bayside, all K. Hovnanian buyers will work directly with a professional interior designer help with their color selections. Along with luxurious features, K. Hovnanian’s energy efficient homes include 16 SERR Air Conditioning Systems, Low-E vinyl windows, LED lighting and a Rinnai tankless water heater. Prices for K. Hovnanian homes at Bayside will start in the mid $300s.

“Our elevated vision for Bayside is an authentic lake-front resort community and we are pleased to have K. Hovnanian and Meritage bring 104, waterfront homes to Bayside – developing these houses will be a big step in bringing our Bayside vision to life,” said Thomas D’Alesandro, lead development partner of Bayside District Partners.

In 2017, multifamily developer, Western Rim began building The Towers and Mansions at Bayside on the north side of the community. The Towers at Bayside will have 392 units, and The Mansions at Bayside will have 448 units. Both of these communities are Energy Star Certified apartments and will save costs on utilities by being environmentally friendly.

About Bayside District Partners, LLC

Bayside District Partners, LLC is managing the Bayside development in Rowlett, Texas. Situated on Lake Ray Hubbard, Bayside is a 262-acre, mixed-use lakefront community that will provide an open-air destination with an expansive green space and recreational activities including the newly renovated Bayside Boat Club with 800 active members, lush gardens, parks, beaches, great shopping and restaurants. Bayside is the premier destination for kiteboarding in Texas and plans also call for an on-site lagoon. Hundreds of families will have lake houses at Bayside with offerings from single-family homes and town homes to luxury apartment living, all located less than 30 minutes from downtown Dallas and major Collin County employment centers. Western Rim was announced as the first multifamily developer in Bayside and began construction on a 777-unit rental community in 2017. Learn more at DiscoverBayside.com.

About Meritage Homes

Meritage Homes is the seventh-largest public homebuilder in the United States, based on homes closed in 2017. Meritage Homes builds and sells single-family homes for first- time, move-up, and active adult buyers in markets including California, Texas, Arizona, Colorado, Florida, North Carolina, South Carolina, Tennessee and Georgia. Meritage Homes has designed and built over 100,000 homes in its 32-year history, and has a reputation for its distinctive style, quality construction, and positive customer experience. Meritage Homes is the industry leader in energy-efficient homebuilding and has received the U.S. Environmental Protection Agency’s ENERGY STAR Partner of the Year for Sustained Excellence Award every year since 2013 for innovation and industry leadership in energy efficient homebuilding.

About Hovnanian Enterprises®, Inc.:

Hovnanian Enterprises, Inc., founded in 1959 by Kevork S. Hovnanian, is headquartered in Red Bank, New Jersey. The Company is one of the nation’s largest homebuilders with operations in Arizona, California, Delaware, Florida, Georgia, Illinois, Maryland, New Jersey, Ohio, Pennsylvania, South Carolina, Texas, Virginia, Washington, D.C. and West Virginia. The Company’s homes are marketed and sold under the trade names K. Hovnanian® Homes, Brighton Homes® and Parkwood Builders. As the developer of K. Hovnanian’s® Four Seasons communities, the Company is also one of the nation’s largest builders of active lifestyle communities. Additional information on Hovnanian Enterprises, Inc., including a summary investment profile and the Company’s 2016 annual report, can be accessed through the “Investor Relations” section of the Hovnanian Enterprises’ website at http://www.khov.com. To be added to Hovnanian’s investor e-mail list, please send an e-mail to IR@khov.com or sign up at http://www.khov.com.